Nuran Wireless - NRRWF STOCK NEWS

NuRAN Wireless Inc. has received a second mandate letter for a senior secured credit facility of up to EUR 8,000,000 (approximately US$9,000,000) from a development finance institution. This funding will finance part of the US$30,000,000 expenditures for network infrastructure in Cameroon and the Democratic Republic of the Congo (DRC), facilitating the rollout of up to 970 rural sites. NuRAN aims to raise an additional US$6,000,000 and has contributed approximately US$5,100,000 in equity thus far. The Loan Facility has conditions and a seven-year term with a grace period.

NuRAN Wireless announced a significant update regarding its operations in Cameroon. The company deployed 32 sites, covering 140,757 inhabitants, achieving a penetration rate of 45.9%, significantly surpassing initial projections. Sixteen sites are generating over the guaranteed monthly fee of $1,225 CAD, with an expected run rate of $2,335 CAD per site. NuRAN has 2,492 Network as a Service (NaaS) sites under contract and anticipates up to $5,800,000 CAD monthly revenue. Additionally, a distribution contract with Orange DRC is set to enhance revenue through commissions on various products.

NuRAN Wireless Inc. has secured an agreement in principle for a senior secured credit facility of up to US$15 million to fund the installation of network infrastructure in Cameroon and the Democratic Republic of the Congo (DRC). This financing is part of a larger US$30 million expenditure for the rollout of 120 rural sites in Cameroon and 850 sites in DRC. The loan requires NuRAN to raise the remaining funds and is subject to standard conditions. The term is seven years with a two-year grace period for principal repayment, and interest may vary between fixed and floating rates.

NuRAN Wireless announced a significant partnership with MTN Group to deploy a minimum of 250 rural telecommunications sites in South Sudan. The 10-year network-as-a-service agreement is projected to generate approximately CAD $57 million in revenues, equating to about CAD $1,800 per site monthly. Installation is planned over the next 24 months, with potential for additional sites. This agreement reinforces NuRAN's commitment to expanding connectivity in underserved regions, using its unique revenue share model to ensure long-term profitability.

NuRAN Wireless has launched its first site in the Democratic Republic of the Congo (DRC) and has 15 sites operational in Cameroon. After one month, these sites achieved an impressive 32.68% penetration rate. The company secured a 2.87M CAD loan from Afriland First Bank, aimed at financing the rollout of 122 sites. Additionally, NuRAN has changed its financial year-end to align with other companies in the sector. The company expects to have 120 sites live by March 2022.

NuRAN Wireless Inc. (OTC PINK: NRRWF) updates on its operations, reporting 10 active sites in Cameroon with a promising average subscription rate of 37%. The company anticipates increasing revenue projections based on higher population densities and ARPU from its sites. Despite missing its initial target of 48 sites due to supply chain delays, all required materials have arrived and deployment is underway. NuRAN is also in advanced negotiations for over 1,000 additional sites and plans to finance its contracts with development banks.

NuRAN Wireless has granted stock options to its directors, allowing the purchase of 100,000 common shares at an exercise price of $1.67 per share. The options will vest immediately and expire in five years. This decision is part of the company's incentive stock option plan and complies with CSE policies and securities laws, including a four-month hold period. NuRAN is a prominent supplier of mobile and broadband wireless infrastructure solutions, aiming to lower the total cost of ownership for mobile network operators.

NuRAN Wireless has secured a US$3 million project loan from a local bank in Cameroon to fund the construction of 122 sites. The bank will provide 75% or US$2.3 million at a 9% annual interest rate. This marks a significant milestone as it is NuRAN's first local bank financing in Africa. The funding enables completion of Phase 1 of the project without further equity usage. The company's business model will be validated through subscription data generated from these sites. Closing of the loan is subject to customary conditions, including guarantees and approvals.

NuRAN Wireless announced significant operational updates as of October 19, 2021. The company has fully repaid its long-term debt of $745,500 through the issuance of 2,259,091 common shares, improving its working capital position. NuRAN has retained Global Financial Network Ltd. to boost investor awareness through various marketing initiatives, with a cash fee of $50,000 and options for 250,000 common shares at $1.70. Additionally, the first live site in Cameroon achieved a notable 46% penetration rate in its first day of operation, surpassing initial projections of 25%.